On 2 April, the French Government merged the previously ongoing AO9 and upcoming AO10 into a single offshore wind auction framework, now referred to as AO10.
The result is a combined volume of approximately 10 GW available in AO10, split almost evenly between fixed-bottom and floating offshore wind sites.
A few things stand out for bidders:
Scale and mix.
At 10 GW offshore wind capacity, this AO10 round is roughly five times larger than any previous French auction (the previously largest AO1 awarded ~2 GW in 2012), and one of the largest single offshore wind auctions ever held in Europe.
Capability CfD with a 25-year support period.
Settlement is based on the wind farm's theoretical output, and external wake effects are compensated, among others. While adding complexity for developers, key compensation features add risk-lowering benefits. Clients can access a detailed breakdown of the new French support framework in a new report on the Aegir Intelligence Platform.
Price target.
The government is aiming for an average maximum strike price at EUR 100/MWh across both technologies. That is tight for floating and could shape the outcome.
Concentration limits.
A diversification rule caps the volume a single developer can win across AO9/AO10 sites, opening room for a broader set of winners while simultaneously increasing competition and the need for strong bidder interest across most sites.
European content.
NZIA prequalification criteria on supply chain resilience, cybersecurity, and responsible business conduct apply to this round.
What we are still waiting for: the final auction documents and the allocation budget. These will determine whether the price target is realistic, and which sites are most attractive on a risk-adjusted basis.
Aegir Insights is tracking France's AO10 closely. If you are preparing a bid or assessing the round, reach out to us here. Our team can support with site-level economics, competitive benchmarking, and Aegir Quant™ modeling once the final parameters are published.
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